Stock market game

ABSTRACT

Stock market game including a game board rotatably mounted at its center on a base. The game board has stock data thereon correlated to six phases of a business cycle, and ranging from high prosperity to deep depression. Each business phase provides for trading in the same stocks with correspondingly applicable high and low stock prices quoted on a stock tape simulating a ticker tape. The game is played by 2 to 5 players, more appropriately called &#39;&#39;&#39;&#39;traders.&#39;&#39;&#39;&#39; The spin of an arrow of a ticker wheel determines the business phase in which the trader can operate and also determines the number of sections that the ticker tape must be advanced. A trader can trade in only one stock at a time. Each trader has his own symbol for indicating his position on the game board, i.e., the particular business phase in which he is operating, and the particular stock in which he has traded. A stock tab is mounted on his trading symbol to identify the stock he has traded, and is removed when the stock is liquidated. Each trader must keep a record of his stock transactions to show his current operating capital. The accuracy of the accounting is checked by a traderbroker. Each trader also has chips of various denominations stored in a net worth chip rack visually representing his cash net worth, which is separate from operating capital. Losses on transactions must be paid to the bank out of cash net worth. Gains are paid by the bank and added to cash net worth. The ticker tape shows which stocks are ex-dividend (XD), and also has arrows opposite some stocks that force a trader to move his play symbol from one phase of the business cycle to another, for better or for worse. A trader who buys, outright, a prescribed number of shares has the option of &#39;&#39;&#39;&#39;walking&#39;&#39;&#39;&#39; THE CHAIRMAN of the Board, represented by a play-piece that is moved on the game board a number of spaced determined by the position in which the arrow on the ticker wheel stops. Such trader, if he walks THE CHAIRMAN, is entitled to place a PAY LIEN marker on the board in one or more selected spaces; and to place a chairman&#39;&#39;s insignia tab on his play symbol to show he is walking THE CHAIRMAN. If THE CHAIRMAN&#39;&#39;s walk &#39;&#39;&#39;&#39;stops&#39;&#39;&#39;&#39; opposite a space corresponding to a space occupied by another trader&#39;&#39;s symbol and which space is pre-empted by a PAY LIEN marker, said other trader must pay a penalty out of his cash net worth to the trader then walking THE CHAIRMAN, or to the bank, if pre-agreed, in an amount prescribed by a CHAIRMAN&#39;&#39;s LIEN TABLE. The object of the game is for a trader to deplete the cash net worth of other traders, which forces them out of the game, regardless of the amount of their operating capital.

United States Patent [191 Thomas 111] 3,865,380 [451 Feb. 11, 1975 s[22] Filed:

[ 1 STOCK MARKET GAME Robert L. Thomas, 2190 Olympic Cir., Reno, Nev.89502 Mar. 13, 1973 [21-] Appl. No.: 340,816

[76] Inventor:

[56] References Cited UNITED STATES PATENTS 1,532,069 3/1925 Ortiz etal. 273/136 GA 1,608,098 11/1926 Hall 273/135 C X 2,526,300 10/1950T0dd.... 273/135 C 2,673,738 3/1954 Jenkins 273/135 C 2,800,330 7/1957Pickard 273/136 GA X 3,058,747 10/1962 Nemetsky et al 273/134 AF3,198,521 8/1965 Kramer et al 273/134 AF 3,254,894 6/1966 Kollmeyer etal 273/135 C 3,602,503 8/1971 Schwartz 273/] E 3,770,277 11/1973 Cass273/135 C Primary ExaminerPaul E. Shapiro [57] ABSTRACT Stock marketgame including a game board rotatably mounted at its center on a base.The game board has stock data thereon correlated to six phases of abusiness cycle, and ranging from high prosperity to deep depression.Each business phase provides for trading in the same stocks withcorrespondingly applicable high and low stock prices quoted on a stocktape simulating a ticker tape. The game is played by 2 to 5 players,more appropriately called traders.

The spin of an arrow of a ticker wheel determines the business phase inwhich the trader can operate and also determines the number of sectionsthat the ticker tape must be advanced. A trader can trade in only onestock at a time. Each trader has his own symbol for indicating hisposition on the game board, i.e., the particular business phase in whichhe is operating, and the particular stock in which he has traded. Astock tab is mounted on his trading symbol to identify the stock he hastraded, and is removed when the stock is liquidated. Each trader mustkeep a record of his stock transactions to show his current operatingcapital. The accuracy of the accounting is checked by a trader-broker.Each trader also has chips of various denominations stored in a networth chip rack visually representing his cash net worth, which isseparate from operating capital. Losses on transactions must be paid tothe bank out of cash net worth. Gains are paid by the bank and added tocash net worth. The ticker tape shows which stocks are ex-dividend (XD),and also has arrows opposite some stocks that force a trader to move hisplay symbol from one phase of the business cycle to another, for betteror for worse.

A trader who buys, outright, a prescribed number of shares has theoption of walking THE CHAIRMAN of the Board, represented by a play-piecethat is moved on the game board a number of spaced determined by theposition in which the arrow on the ticker wheel stops. Such trader, ifhe walks THE CHAIRMAN, is entitled to place a PAY LIEN marker on theboard in one or more selected spaces; and to place a chairman's insigniatab on his play symbol to show he is walking THE CHAIRMAN. If THECHAlRMANs walk stops opposite a space corresponding to a space occupiedby another traders symbol and which space is pre-empted by a PAY LIENmarker, said other trader must pay a penalty out of his cash net worthto the trader then walking THE CHAIRMAN, or to the bank, if pre-agreed,in an amount prescribed by a CHAIRMANs LIEN TABLE.

The object of the game is for a trader to deplete the cash net worth ofother traders, which forces them out of the game, regardless of theamount of their operating capital.

37 Claims, 13 Drawing Figures PATENTEU 3.865.380

SHEET 5 OF 6 STOCK MARKET GAME BACKGROUND OF THE INVENTION 1. Field ofthe Invention This invention relates to a game involving judgment andtechniques of operation, as well as chance, and more particularly, to agame of the stock market type having novel principles of operation.

2. Description of the Prior Art Stock market games are not new per se,butmany prior games have been played in accordance with directions forthe purchase and sale of stocks appearing on printed instruction cards,successively drawn from a pile by the players. Other prior games requirethe use of dice, or a spinning arrow, to indicate the action to betaken. Still other games have included the use of paper play money andcards simulating stock certificates to be bought and/or sold at pricesindicated on instruction cards. However, such prior games are USU-r allybased upon fixed stock prices and/or instructions to buy or sell atarbitrary, specified prices. Also, in many such games, a player'sstrength can be weakened by the direction action of other players, andas a players strength diminishes, he loses his power to strike backstrongly and offensively, and soon can be forced out of the game.

SUMMARY OF THE INVENTION In contrast with the prior games mentionedabove, in the present game, a traders striking power is as strong as hisoperating capital permits, and cannot be weakened by the action of otherplayers. Thus, a trader, by shrewd trading on margin, and with goodluck, can quickly build up a large operating capital with relativelysmall initial capital, without interference or depletion of hisoperating capital by other traders. On the other hand, a traders cashnet worth can be depleted by other traders, and when his net worth isgone, he is out of the game, regardless of how much operating capital hehas. These principles of play are novel and serve to make the game morecompetitive.

The present stock market game also differs from all prior games inrequiring a trader to operate in a certain time era, which maay bebeneficial or detrimental. This creates a feeling of excitement andsuspense, in that the traders are required by chance, and not choice, totrade in a particular phase of a business cycle, that can possibly fallanywhere from high prosperty to deep depression; and by furtherrequiring a trader, playing in turn and without choice, to suddenlyshift from one phase of the business cycle to another, for better or forworse, and thus unexpectedly change the traders prospects of achievinghigh operating capital and/or high cash net worth.

A further distinguishing feature of the present game is that each traderis required to record all stock transactions, both purchases and sales,and to keep a tabulation of gains and losses therefrom, includingdividends, all of which entries are checked by the broker, so that thetraders record sheet shows current operating capital at the end of eachcompleted transaction. However, no money is exchanged with the purchaseand sale of stock, so that the stock trades are purely a papertransaction. However, the amount ofa loss must be paid out of cash networth to the bank. Gains are paid by the bank and increase cash networth. Trading can be done inonly one stock at a time.

the banker, out of such cash net worth, an amount corresponding to thedivident on stock that he has sold short; and to also pay a lien amountthat is imposed when another trader has THE CHAIRMAN walking, and THECHAIRMAN stops opposite a space correponding to that occupied by hissymbol. Liens collected add to a traders cash net worth, unless thetraders agree beforehand that all or a specified part is to be paid tothe bank. Any dividends payable to a trader are paid in chips from thebank and are added to the traders cash net worth. The cash net worth ismaintained separate and independent of the traders record sheet ofoperating capital.

Other rules of play may limit the amount of money that can be involvedin a trade, say $10,000.00, or limit the maximum number of shares ofstock that a trader can buy at any one time: for cash, for example,1,200 shares, except when a trader is buying shares to walk THECHAIRMAN. At such time, it is beneficial to a trader to buy as manyshares as he possibly can, because the amount of the lien assessed as apenalty against another trader, or traders, will increase with thenumber of shares involved. A CHAlRMANs LIEN TABLE prescribes the minimumnumber of shares of a particular stock that must be bought by a traderin a given phase of the business cycle to qualify to walk THE CHAIRMAN,except that shares cannot be bought on margin to walk THE CHAIRMAN, norbought for this purpose by a trader whose symbol is in the neardepression or deep depression phase of the business cycle. This imposesan additional handicap on a trader who is unlucky enough to be operatingin either of these undesirable phases. The CHAIRMANs LIEN TABLE setsforth the price that must be paid for the shares, and the rule of thegame is that the purchase of shares to effect walking of THE CHAIRMANmust be on an outright basis, and not on margin. This rule handicaps thetrader who does not have enough operating capital to buy outright therequired minimum number of shares of a particular stock. The traderscapital balance will determine the number of shares which he may tradeand the broker has stock price sheets from which he can inform a traderwhether he is qualified to trade. otherwise, except for limitations inbuying long (margin or outright), there is no limit on the number ofshares which may be sold short, if he has the required capital. Atraders cash net worth does not enter into the purchase or sale ofstock. However, once he has THE CHAIRMAN walking, a trader may no longerbuy on margin or sell short.

More specifically, the present game comprises a generally square basehaving a pivot pin mounted thereon and a generally square game boardmounted for rotation about its center upon said pin, so that is can beproperly positioned in front of a trader making a play. The game boardhas a centrally located ticker window," and has stock data thereonlocated to the left of the window, correlated to six phases, or timeeras, of a business cycle. For example:

1. High prosperity (stock prices at top levels);

2. Cautions trading (top prices being approached);

3. Boom (economic conditions favorable and stock prices rising);

4. Slow industrial activity (stock prices faltering);

5. Near despair (stock prices going down); and

6. Gloom and deep depression (stocks at low or bottom prices).

Each of the six business phases is represented by an area on the gameboard of different color, each area further having a portion of solidcolor and a checkered portion of the same color, both portions havingholes in which a trader's symbol can be mounted. Between the left edgeof the ticker window and the six colored areas are columns identifyingfive stocks opposite each phase, according to their abbreviations, orsymbols, and indicating the high and low prices of each stock for eachphase, the five stocks listed being the same in each phase. Five stockshave been chosen as an example, but any number can be listed.

Beneath the ticker window is a ticker tape having printed thereonsuccessive sections showing the sym bols and the prices of the fivestocks for each of the six business'phases, and which prices varyaccording to the phases and from one section to the next. The tickertape also has the letters XD opposite some of the listings to indicate adividend to be payable. Phasechange arrows and colored areas also appearopposite some of the stock listings and may require a trader holding acertain stock in one business phase to shift to another phase, eitherbetter or worse. The ticker tape is moved by winding it from one rollonto another.

A ticker wheel and a spinnable arrow determine in which phase of thebusiness cycle a trader is to start operating, and also determine thenumber of sections that the ticker tape must be advanced to enable thetrader to take action.

Each trader has his own trading symbol that is used in play, and whichmust be placed on the appropriate area on the game board correspondingto the phase in which he is operating. Prior to a traders first play, hemounts his trading symbol in a hole on the game board in an area markedPLUNGE HERE to indicate that he is ready to operate.

To the right of the ticker window are successive columns containingstock-identifying abbreviation symbols, different solid colored areasfor eachbusiness phase, stock abbreviations and dividends for eachphase, and different colored checkered areas for each phase. The solidand checkered colored areas match those on the left of the ticker windowand likewise have holes or the mounting thereon of a traders symbol.After a trader has made a trade, a corresponding stock tab is mounted onthe traders symbol, and it is moved to the right across the tickerwindow to a solid or checkered colored area corresponding to thatpreviously occupied. Next on the game board is a slot marked WALL STREETin which a play-piece representing THE CHAIRMAN of the Board can bemounted, and along which THE CHAIRMAN is walked. At the right edge ofthe slot is a column of six spaces, each designated LIEN MARKER, one foreach business phase, and a last column of six areas, each divided intotwo neutral colored portions, but with one portin solid and the othercheckered.

A play-piece marked PAY LIEN is positioned on three selected sections ofthe LIEN MARKER column by the trader who is the first to walk THE CHAIR-MAN, in accordance with rules of play, as will be explained later. Theamount of the lien, or penalty, is determined by a CHAIRMANs LIEN TABLE.Also, a trader who walks THE CHAIRMAN places a tab on his trading symbolbearing THE CHAIRMANs insignia, and if he is the first trader to walkTHE CHAIRMAN, he also sets up on the board a play-piece reading THECHAIRMAN IS WALKING. The game board has compartments for storing thevarious play-pieces mentioned above. i

The trading technique in playing the game is the same as is real stockmarket trading, the idea being to buy stocks when they are down" andsell them when they are up, while at the same time building up a largeoperating capital and depleting the cash net worth of competing tradersto put them out of the game, the depletion of cash net worth being theonly way to do so.

Numerous variations may be made in the rules of play described above,along with other possible innovations in play procedure. One suchvariation would comprise providing several different CHAlRMANs LIENTABLES, one of which would be selected by the traders prior to startingthe game. Another option would be to vary the amount of the lien inaccordance with the business phase in which a trader happens to getcaught by THE CHAIRMAN. For example, if a trader is caught in thebusiness phase of high prosperity, the lien penalty could be doubled, orif a trader is caught in the business phase of deep depression, the lienpenalty would not apply. Another option would be to allow a trader topass, but with a limit on the number of times he could do so, and thusforce him to play. Another option would be to use price sheets withdifferent margin requirements from those used herein. Thus, the possiblemodifications are unlimited.

In any event, the principal object of the invention is to provide astock market game that closely simulates the operations that occur in areal stock exchange, insofar as buying and selling stock is concerned,but which is much more exciting.

Another object is to provide a stock market game that creates suspenseand excitement by requiring a trader to operate in a specified phase ofa business cycle, determined by chance and not by choice.

A further object is to provide a stock market game in which a trader isrequired to shift operation from a phase of a business cycle in which hehas been operating to one that may be better or worse, and wherein thevalue of his shares varies accordingly and may change from play to play.

A further object is to provide a stock market game according to whicheach trader keeps a record of his transactions to show his operatingcapital and can only use operating capital for trading in stock, andonly one stock can be traded at a time.

A still further object is to provide a stock market game in which atrader also has a cash net worth represented by chips of variousdenominations, but which chips cannot be used to buy stock (long), or tosell stock (short). Chips are used only for the purpose of adding to, orsubtracting from, net worth.

Another object is to provide a stock market game wherein a tradersoperating capital, as distinguished from cash net worth, cannot bediminished by the activities of other traders.

Another object is to provide a stock market game in which a traderreamins in the game only so long as he has cash represented by cash networth chips, and is forced out of the game when his cash net worth isdepleted, regardless of the amount of operating capital that he mayhave.

A further object is to provide a stock market game wherein a trader mustpay penalties, losses on stock transactions and possible dividends onstock sold short, out of his cash net worth.

Still another object is to provide a stock market game wherein a traderscash net worth can be unexpectedly wiped out, thereby brining hisparticipation in the game to a sudden, climactic end.

Still another object is to provide a stock market gaem wherein one ofthe principal aims of each trader is to build up operating capital asquickly as possible to place himself in a position to take action thatwill impose a penalty against one or more competing traders, suchpenalty'being payable only out of cash net worth, and thereby reduce thecash net worth of the competing traders.

A more specific object is to provide a stock market game wherein atrader must have sufficient operating capital to buy at least aprescribed minimum number of shares of stock to become entitled to placea movable play-piece, called THE CHAIRMAN, on the game board for walkingalong a walkway along which other traders may have their trading symbolspositioned, and wherein a penalty becomes effective if THE CHAIR- MANstops walking opposite a space corresponding to one occupied by one ormore of the other traders.

Another object is to provide a game in which liens are assessed againstthe cash net worth of one or more traders, and which liens may berequired to be paid to another trader, or to a bank instead of anothertrader, or split between the two, and in this way reduce the cash networth of a penalized trader while building up the cash net worth of alien holder.

Other objectives and featuresof the present game will be apparent fromthe following description, taken in conjunction with the accompanyingdrawings.

DESCRIPTION OF THE DRAWINGS FIG. 1 is a diagrammatic plan view of aplaying table having thereon the present game board, and tradersequipment for use in playing the game, together with a separate smallertable and equipment for use by the broker and/or banker.

FIG. 2 is a vertical, sectional view through one of th traders chipracks for chips representing a visual display of cash net worth, takenon the line 2--2 of FIG. 1.

FIG. 3 is a vertical, sectional view through the bankers chip rack,taken on the line 3-3 of FIG. 1.

FIG. 4 is a vertical, sectional view through the brokers stock pricesheet holder, taken on the line 4-4 of FIG. 1.

FIGS. 5 and 5A are enlarged fragmentary plan view of the game board,showing a section of the ticker tape at the ticker window and some ofthe play-pieces in position during play and others in their respectivestorage compartments.

FIG. 6 is a vertical, transverse, sectional view through the base; gameboard, pivot pin; ticker tape, rolls and housing therefor; and theticker window, taken on the line 66 of FIG. 5.

FIG. 7 is a vertical, sectional view taken on the line 7-7 of FIGS. 5and 5A, particularly showing the housing for the ticker tape; the knobsfor rotating one of the tape rolls; and also showing THE CHAIRMAN inwalking position.

FIG. 8 consists of a series of perspective views of various play-piecesused in playing the game.

FIG. 9 is a fragmentary plan view of the ticker tape attached at itsends to the rolls and having stock price quotations thereon.

FIG. 10 is a plan view of a stock price sheet to be used by the brokerin determining the price that must be paid for stock in a giventransaction having a share value of $1 1.00.

FIG. 11 is a plan view of the trader's record sheet for keeping arunning record of stock transactions, gains, and losses, dividends,etc., and particularly current operatin g capital.

FIG. 12 is a fragmentary view of a game board having a modified form ofticker window construction.

DESCRIPTION OF THE PREFERRED EMBODIMENTS Referring to FIGS. 1 and 6, thepresent game comprises a substantially square base 7 having a centrallylocated boss 8, provided with an opening 9 in which a pivot pin 11 issecurely mounted. A substantially square game board 10, slightly largerthan the base 7, has an elongated, rectangular housing 12 secured to itsunderside in any suitable manner, as by adhesive, as indicated at 14, tothereby form an integral structure. The housing 12 has a bottom wall 16with a centrally located boss 17 provided with an opening 18 to receivethe pin 11. A disc 20 is adhesively or otherwise bonded to the bottomwall 16, as indicated at 22. The disc 20 also has an opening 24 toreceive the pin 11, whereby the game board 10, housing 12 and disc 20form a unitary structure that can be rotated about the pin 11 relativeto the base 7.

The game board 10 has a pair of parallel slots 26 and 28 that aresubstantially co-extensive in length with the interior of the housing12. Wooden rolls 30 and 32 extend through end walls 34 and 36 of thehousing 12, FIG. 7, and are rotatably mounted therein. A so-called stockticker tape 38 is threaded through the slots 26 and 28 and one endthereof is permanently fastened to the roll 30 and the other end ispermanently fastened to the roll 32, the tape being adapted to be woundfrom one roll onto the other, as will be understood from FIG. 6. Theends of the ticker tape 38 can be adhesively secured to the rolls 30 and32, fastened by tacks, or extned into slots (not shown) in the rolls andtacked or adhesively secured in the slots.

The ticker tape 38 may be made from any suitable flexible and durablemateial, for example, plastic or ordinary roller shade material. Aportion 39 of the game board 10, disposed between the slots 26 and 28,serves as a support for the ticker tape 38 so that, in effect, a window40 is provided for viewing a portion of the ticker tape. The ticker tape38 has stock-related indicia imprinted thereon, which will be describedin detail later. The longitudinal edges of the slots 26 and 28 arechamfered so as not to impede movement of the ticker tape 38 through theslots. The roll 30 is longer than the game board 10 and extends to apoint beyond the top and bottom, or opposed, edges of the game board anda knob 42, FIGS. 1, 5 and 5A, is secured to each end thereof. The roll32 is similar and has knobs 44 at each end thereof, the knobs 42 and 44being conveniently located at the front and rear edges of the game boardl and serving to facilitate turning of their respective rolls. It willbe understood that, as the roll 30 is rotated counterclockwise, asviewed in FIG. 6, the ticker tape 38 will be wound thereon and unwoundfrom the roll 32, and vice versa. Washers or spacers 46 may be mountedon the roll 30 within the housing 12 between the end walls 34 and 36 andthe ticker tape 38 to keep the tape evenly wound and centered andprevent the edges thereof from contacting the ends of the slots 26 and28. Washers 48 are similarly mounted upon the roll 32 and serve the samepurpose. Collars 51 mounted upon the rolls 26 and 28 adjacent the outerside of the end walls 34 and 36 can be adjusted to center the tickertape 38 relative to the slots 26 and 28. The corners of the game boardare cut off on an angle of about 45, and a vertical post 50 ispermanently mounted on the board at each corner to aid a trader (player)in turning the game board 10 relative to the base 7 so that the frontedge of the game board is nearest to him.

Referring to FIGS. 5 and 5A, certain indicia is applied to the gameboard 10, either by directly imprinting the same thereon, or by printingthe indicia on one or more sheets and bonding the sheets to the topsurface of the game board. More specifically, immediately to the left ofthe slot 26 are three columns containg data relative to given stocks.Thus, a column 52, headed STK, contains letters constituting the stockmarket abbreviations for five specific stocks, although any number ofstocks can be tabulated. As will be seen, column 52 repeats theabbreviations to provide six groups of letters consisting of WY, whichis the abbreviation for Weyerhauser Company; F, which is theabbreviation for Ford Motor Company; X, which is the abbreviation forU.S. Steel Company; J, which is the abbreviation for the Standard OilCompany; and PX, which is the abbreviation for Phoenix Steel Company. Itwill be understood by persons having some familiarity with the stockmarket that the letters selected correspond to the symbols that appearon ticker tapes commonly found in stock brokers offices. The adjacentcolumns marked 54 and 56, headed H and L list the high and low pricesfor the respective stocks.

To the left of the column 52 are six differently colored areas thatrepresent different eras, or stock market situations coresponding todifferent phases of a business cycle. These colored areas are generallyidentified by the numerals 58, 60, 62, 64, 66 and 68. The area 58comprises a portion 58A that is colored solid red and a checkeredportion 58B, also colored red. Red symbolizes an era or phase of thebusiness cycle of high prosperity, and possible danger, when stockprices are at the top of the market and where it may be expected thatany definite trend that develops will be downward.

The area 60 includes a solid colored portion 60A and a checkered portion60B, both colored yellow, to indicate an era or business phase orcaution when the apparent top" is being approached with characteristicwarning signs.

The area 62 includes a solid portion 62A and a checkered portion 62B,both colored blue, which represents an era or market phase of boom, withstocks generally showing an upward trend.

The area 64 includes a solid portion 64A and a checkered portion 648,both colored green, which represents an interval of the business cyclewhen the cum bersome wheels of business and industry are turning butslowly.

The area 66 includes a solid colored portion 66A and a checkered portion66B, both colored brown, which symbolizes an era or phase of neardespair, reflected by a continuing downward trend in stock prices.

The area 68 includes a solid colored portion 68A and a checkered portion688, both colored black, to signify an era or phase of the cycle ofrapidly falling stock prices reflecting dark gloom and depression.

The foregoing color scheme is intended to cover trading opportunities orrisks involved in a complete business cycle, ranging from what may becharacterized as happy days to deep recession. An interesting feature ofthe game is that a trader is relegated by chance, rather than choice, totrading in one or another of the phases of the business cycle, as willbe pointed out more fully hereinafter.

It will be noted from FIGS. 5 and 5A that each of the era-representingareas 58, 60, 62, 64, 66 and 68 has one of the groups of five stocksymbols, column 52, adjacent to the checkered portion thereof. Theobject of this is to give a trader the choice of trading in one of thefive stocks under the particular price conditions existing in the phasein which he is required to trade, as will appear more fully hereinafter.

With further reference to FIGS. 5 and 5A, the game board 10 has a column70 headed STK for stock symobls, disposed along the righthand edge ofthe slot 28. These are identical to those appearing in the column 52 andare in the same group and line arrangement. Adjacent to the column 70 isa row of solid colored areas generally identified by the numeral 72, butconsisting of a red section 58C, a yellow section 60C, a blue section62C, a green section 64C, a brown section 66C and a black section 68C.Next to the column 62 is a column 74 headed STK containing stock symbolsidentical to those in columns 52 and 70. Adjacent to the column 74 is acolumn 76 headed DIV. containing dividend values for the respectivestocks in the various trading phases 58 to 68. Adjacent to the dividendcolumn 76 is a column 78 consisting of colored checkered areasidentified as 58D, 60D, 62D, 64D, 66D and 68D, corresponding in form tothe checkered areas 58B to 688.

The game board 10 has a long, narrow slot 80 formed therein, having arecessed walkway 86C designated WALL STREET, which extends for thecombined length of the checkered areas 58D to 68D. The slot 80 hasenlargements 82 and 84 at its opposite ends, respectively. The slot 80is designed to receive a playpiece 86 signifying THE CHAIRMAN of theBoard who, under certain rules of play, can be made to walk down theslot 80 along WALL STREET by one or more of the traders, and imposeliens on stock held by other trades, as will appear later.

Adjacent to the chairmans walk 80 is a column 88 divided into sixsections correlated with the areas 58 to 68, each section being markedwith the legend reading LIEN MARKER. These sections indicate where PAYLIEN markers 90 are placed by traders to assess certain penalties to bepaid by a trader whose trading symbol is in the business phase oppositethe space where THE CHAIRMAN stops his walk, as will be explained morefully hereinafter.

The last column 92 on the game board is divided ito l2 spaces with twospaces opposite each LIEN MARKER section. These spaces are alternatelysolid and checkered. They are neutral in color and match the spaces ofthe various business cycles only in so far as being solid or checkeredis concerned. Thus, the uppermost section 94 has a solid space 58E and acheckered space 58F. The remaining solid and checkered spaces arenumbered for reference as 60E 60F, 62E 62F, 64E 64F, 66E 66F and 68E68F. The function and purpose of these spaces with respect to the PAYLIEN markers will be described later.

The game board may be molded from plastic material, in which eventintegral pockets may be formed to receive various play-pieces.Alternatively, the game board may be made of cardboard and providingwith an opening (not shown) and a'compartmented tray (not shown) mountedin the opening to receive the various play-pieces. In either event, atleastten compartments are provided, two for each of the five stocksidentified by the symbols in the columns 52, 70 and 74. Thus, in thepresent game, ten stock tab compartments are provided, as shown in FIG.5, wherein the compartments are arranged in two rows of five each. Acompartment 96 is provided to receive tabs 88 having the letter Jthereon corresponding to stock J, and also having the letter L thereonto indicate that the stock was purchased long, either on margin or forcash outright. The letters J and L are printed in blue ink on both sidesof the tab. A corresponding compartment 100 has tabs 102 therein,provided with the letter J, but also having the letter S thereon toindicate that the stock was sold short." In this instance, the letters Jand S are printed in red ink. Each of the tabs 98 and 102 has a groove103 formed in the lower edge thereof, so that it can be mounted upon thesymbol ofa trader who has acquired the same. Other means of mounting maybe used, also, such as pegs (not shown) at the base of the tabs placedin holes in decks (not shown) atop the symbols similar to the way thesymbols are placed on the'game board. Additional compartments 104 106,108- 110, 112 114, and 116 118 are provided for stock tabs bearing theabbreviations F, WY, PX and X, respectively, with each of the lattertabs also marked with the letter L and S for the same purpose stated inconnection with the J tabs 98 and 102. It will be understood that thestock tabs can be placed in any compartments desired and need not followin the order described.

The stock tab 98, for example, may be made by laminating three hits ofplastic, as shown in FIG. 8, with the intermediate bit shorter than theouter bits, to provide the groove 103; or the tabe could be molded inone piece to the same configuration. In either event, one of the outerportions of the tab would be of greater length than the other tofacilitate mounting the same upon a traders symbol. The groove 103 isdimensioned to provide a snug fit. Any desired number of each of thestock tabs can be provided, although trading is limited to one stock ata time.

A compartment 120 is provided for THE CHAIR- MAN play-piece 86, only oneof which is required; a compartment 122 is provided for tabs 124 havingTHE CHAIRMANs insignia of a high hat and the letters CH thereon, five ofwhich are required; and a compartment 126 is provided to serve asstorage space for the PAY LIEN play-pieces 90, six of which are requiredfor the six LIEN MARKER sections of column 88.

Additional play-pieces comprising animal symbols made of plastic orother suitable material, and which may be of different colors, are usedto symbols individual traders. Each trader selects one of the animalsysmbols for use in designating his position on the game board 10and'for mounting thereon a stock tab, such as 98, to .show thathe hasacquired some J stock long, and for also mounting thereon a CHAIRMANsinsignia tab 124 to show that he is walking THE CHAIRMAN, as isexplained later.

The trader symbols have an animal depicted on both sides thereof and maybe selected in accordance with the role that the trader wishes to playin the market. Thus, and with reference to FIG. 8, THE BULL symbol 128represents an individual who puts prices up" to make a profit. THE BULLsymbol 128 and all other animal symbols have a round peg 130 attached tothe lower edge thereof for mounting in an appropriate hole on the gameboard 10, and a handle extension 132 to enable the piece to be readilygrasped for positioning the symbol on the game board.

THE LAMB symbol 134 personifies the novice trader who does not know muchabout market procedure.

THE HOG symbol 136 represents the operator who is seldom satisfied witha fair profit and often winds up riding the market from bottom to topand then back again.

THE BEAR symbol 138 represents the conscienceless trader who raids themarket, weighing it down when prices are high, by selling short in thehope that he can buy in at lower prices.

THE TORTOISE symbol 140 symbolizes a cautions trader who waits patientlyfor large profits.

THE HARE symbol 142 represents the speedy operator, who always has a hotdeal brewing, usually with lots of margin.

THE DONKEY symbol 144 defines the solid Democrat who believes aRepublican is always wrong.

THE ELEPHANT symbol 146 stands for a staunch Republican who naturallyfeels the market does better when his party is in power.

The play-piece 86, FIG. 8, used to indicate the situation in which THECHAIRMAN is walking, including an upright portion 86A and a generallyoval-shaped base portion 86B. The portion 86A has the words THE CHAIRMANand an illustration of THE CHAIRMAN smoking a cigar and carrying a canedepicted upon the opposite sides thereof. The oval base 86B facilitatesturning of THE CHAIRMAN at each end of Wall Street and is of sufficientsize to support THE CHAIR- MAN in an upright position. The base 86B canbe introduced into the enlargement 82 with the bottom resint on asubfloor walkway 86C, FIG. 6, attached to the underside of the gameboard 10. The subfloor 86C extends along the entire length of WALLSTREET under the slot 80 and its purpose is to support THE CHAIR- MAN 86as he makes his entrance at 82 and moves along the slot 80 in accordancewith the number of steps or moves required to be taken by THE CHAIR- MANaccording to the course of play. The walkway 86C is wide enough toaccommodate the base 86B and the space between the upper side of thewalkway and the lower side of the game board 10 is sufficient to allowthe base to be moved freely and at the same time give stability to theupright portion 86B depicting THE CHAIRMANS FIGURE, which protrudesthrough the slot 80. The openings 82 and 84 at either end of WALL STREETare large enough to allow THE CHAIR- MANS play-piece 86 to be turnedwithout friction.

Also, in connection with THE CHAIRMANS walk, there is a play-piece sign148, which has printed on the opposite sides thereof the words THECHAIRMAN IS WALKING. The sign 148 is placed on the game board betweentwo pairs of spaced uprights 150 whenever THE CHAIRMAN has been made towalk, as in FIG. 6.

The game board 10 may have printed thereon a ticker wheel 152, FIG. 5,and a ticker arrow 154 can be associated with the wheel and mounted on acenter pivot pin 156 fastened to the game board; or the ticker wheel andpivoted arrow can be provided as a separate component of the game. Ineither event, the ticker wheel 152 may consist of six major segmentswith the numerals l, 2, 3, 4, 5, and 6 opposite the mid-portion of therespective segments. These numerals indicate the number of spaces thatthe ticker tape 138 is to be advanced in play, and also the number ofspaces that THE CHAIRMAN must be moved when THE CHAIR- MAN is walking.Each of the segments is divided into two parts, colored to match thesolid and checkered era-representing areas 58A 588 to 68A 68B. Thus, thesegment opposite I has a portion 60AA colored solid yellow and acheckered portion 68BB colored brown; the segment opposite 2 has a solidbrown portion 66AA and a checkered green portion 64BB; the segmentopposite 3 has a solid blue portion 62AA and a checkered red portion58BB; the segment opposite 4 consists of a portion 68AA colored solidblack and a checkered yellow portion 60BB; the segment opposite 5consists of a portion 64AA colored solid green and a checkered portion66BB colored brown; and the segment opposite 6 consists of a solidportion 58AA colored red and a checkered portion 62BB colored blue. Thetraders playing the game take turns spinning the arrow 154 to determinethe particular play to be made, all as will be explained later.

Additional equipment used in playing the present game comprises circularchips, similar to poker chips, and individual racks for holding thechips. The chips are different colors and have correspondingly differentvalues. Thus, gold chips 158 have printed on the face thereofa value of$20,000.00; silver chips 160, a value of $10,000.00; blue chips 162, avalue of $5,000.00; red chips 164, a value of $1,000.00; green chips166, a value of $500.00; and white chips 168, a value of $100.00. Eachtrader is provided with a chip rack 170, FIG. 2, to receive hisallotment of chips corresponding to an agreed initial cash net worth. Ifone of the traders also acts as banker and/or broker, he receives a bankchip rack 172, FIG. 3, that is taller and holds more chips than the rack170 of the individual trades. All of the chip racks 170 and 172 aredesigned so that the pockets for the chips are inclined rearwardly, andso that a portion of the chips extends forwardly slightly beyond thefront edge thereof to enable them to be readily removed from the racks.The chip racks 170 and 172 may be made from any suitable plastic orother material.

Each trader is also provided with a pencil 173 and a transaction recordsheet 174, FIGS. 1 and 11. The sheet 174 constitutes a RECORD OF STOCKTRANS- ACTIONS AND OPERATING CAPITAL, and has columns to keep a recordof the name of each stock traded, the number of shares, and whether ornot the trade was for cash or on margin, etc. Thus, beginning at theleft end of the record sheet 174, it will be noted that a column 176 isheaded STOCK, and that a column 178 is headed PRICE. A column 180 isheaded NO. OF SHARES. A column 182 is headed LONG OR SHORT and containsspaces having the letters L and S, one of which is to be circled toindicate whether the stock was purchased LONG (margin or outright) orsold SHORT (always on margin). A column 184 is headed MARGIN OR OUTRIGHTand includes spaces containing the letters M and 0, one of which is tobe circled to indicate whether the transaction was on a margin basis orfor outright cash.

The transaction sheet 174 also contains a main heading reading OPERATINGCAPITAL and a column 186 headed BALANCE, column 188 headed CAPITAL PLUS,and a column 190 headed CAPITAL MINUS. The last column 192 on the sheet174 is headed CHAIRMANS LIENS.

The BALANCE column 186 is used to maintain a current record of theamount of operating capital that the particular trader has, and which isentered on line B. The CAPITAL PLUS and CAPITAL MINUS columns 188 and190 are used only to enter the amount of dividend received, or requiredto be paid out, by the trader, respectively, and also to enter capitalgains or losses, when combined with receipts or payment of dividends,for convenience in arriving at subtotals to be transferred toappropriate spaces opposite +1" or T in the BALANCE column 186 at theend of a transaction. The total in the BALANCE column, after additionsor subtractions have been made, is always entered opposite B in the nexttrading space below to show the traders new opeating capital balance.The B space, located between +T and T in the BALANCE column, is usedwhere there is a combination gain and loss on the same transaction. Thishappens, for example, when dividends have been received, representing again, but where the stock has been sold at a loss. It also happens whendividends have been paid on a stock sold short, but where the stock iscovered" at a price lower than it was sold for, thereby showing a gain.In the first instance, the dividends would be totalled at the close ofthe transaction and added to the previous balance at +T and a subtotalopposite B on the line below. The loss from the sale of stock would thenbe subtracted from this amount to arrive at a new operating capitalbalance. In the second instance, the gain from the short sale would beentered and added opposite the +T, while the dividends paid out andtotalled under CAPITAL MINUS would be subtracted at +T to determine thenew balance.

On the other hand, when dividends have been received and there is also again from the sale of the stock, the gain is entered and totalled withthe dividends in the CAPITAL PLUS column before being transferred to +Tin the BALANCE column. If dividends have been paid for stock that wassold short and there is also a loss from the stock transaction, the lossis entered and totalled with the dividends paid in the CAPITAL MINUScolumn. In either of the two above instances, the amount shown afteradding or subtracting, is the new operating capital balance.

Chips are received or paid from cash net worth according to the amountof gain or loss on the transaction. Before any exchange is made, thebroker must verify the accuracy of the traders arithmetic. If chips havealready been paid on the dividend, the only exchange would be for thecapital gain or loss at the close of the transaction.

A column 192 on the record sheet 174 is provided for entering the amountof the lien to be assessed against other traders when THE CHAIRMAN isbeing walked, as will appear later.

The trader acting as broker is provided with a holder 194, FIG. 4, toreceive stock price sheets 196, FIG. 10. The stock price sheets 196 maybe in loose form, in the form of a bound booklet, or in tablet form. Theloose form is preferred because, if prices are printed on opposite sidesof the sheet, it can be quickly removed from the holder 194 and turnedover. However, it may be desirable to have prices printed on only oneside of the price sheet 196, although this would double the number ofsheets required. The price sheet holder 194 has a base 198 and spaced,diverging front and rear walls 200 and 202 to allow the price sheets 196to be quickly flipped back and forth, as required. Each stock pricesheet 196 has a tab 204 on the upper edge thereof and these are designedto be staggered on successive sheets to enable quick selection. Each tabbears one or two numerals to indicate the price to be paid for variousnumbers of shares of stock purchased at a given price per share.

FIG. shows a typical stock price sheet 196 having a tab 204 bearing thenumerals 11 and 12, with the tabulations for stock selling at $11.00 PERSHARE exposed. As is shown, the stock price sheet 196 has a firsthorizontal row 206, identified by the word SHARES followed by a seriesof columns wherein the numerals 100, 200, 300, etc. are printed toindicate the number of shares in a transaction. A second row 208contains the words REQUIRED MARGIN, which contains printed values of550, 1,100, 1,650, etc., corresponding to the amount of money that mustbe paid for 100, 200, 300, etc. shares when trade is on margin. A thirdrow 210 is marked REQUIRED CASH and has printed therein values of 1,100,2,200, 3,300, etc., which indicate the amount of cash required to bepaid for '100, 200, 300, etc. shares of stock, respectively, when boughtoutright. The stock price sheet 196 contains tabulations with respect totransactions involving 100 to 4,000 shares with corresponding amounts ofcash required for margin and cash transactions. However, the stock pricesheets may have tabulations for any number of shares. These tabulationsmake it easy for the broker to quickly determine how many shares of aparticular priced stock can be traded, depending on the availableoperating capital that the trader has to spend. The same sheet can beused to quickly detemine the profit or loss on a transaction, forexample, if the gain or loss is l 1 dollars per share, then the samestock price sheet can be used to readily determine the total amount ofgain, or loss, in accordance with the number of shares involved. Forexample, if 500 shares wre involved, then the amount would be 5,500found in row 210 in the 500 share column.

The number of stock price sheets 196 required will depend upon the rangeof the stock prices quoted on the ticker tape 38. v. g 1

FIG. 9 illustrates a fragmentary portion of the ticker tape 38 wherefromit will be noted that its endportions 30A and 32A, adjacent to the rolls30 and 32, respectively, are blank except for the word START. Otherwise,the tape 38 contains vertical sections of stockidentifying symbols,prices, etc., spaced so that one complete section can be viewed at thewindow 40 of the game board 10. It is to be understood that the tickertape 38 also has the stock listings arranged in six groups, orlongitudinal rows, corresponding to the six time eras 58 and 68 on thegame board 10, with stock values correspondingly graded to thoseexisting in the particular eras. More specifically, FIG. 9 shows sixtransverse sections of the ticker tape 38 identified for convenience bythe numerals 212, 214, 216, 218, 220 and 222. The ticker tape 38 mayhave any number of such sections, and may have an overall length oftwenty to 30 feet or more. However, the last section 222 preferably hasquotations identical to those in the first section 212. This arrangementis desirable because when the ticker tape, during play, has been woundupon the roll 30 until the last section 222 is at the ticker window 40,the tape 38 can be completely rewound onto the roll 32 by turning itclockwise and moved the required number of additional sections byturning the roll 30 counterclockwise; or it can simply be started in theopposite direction by winding it back onto the roll 32.

It will be understood that each of the sections 212 to 222 of the tickertape 38 is divided by double lines into six groups, each groupcontaining quotations for the same five stocks. FIG. 9 shows only fourgroups identified by the numerals 224, 226, 232 and 234, the tworemaining intermediate groups 228 and 230 being identified in FIGS. 5and 5A. These groups appear in the ticker window 40 opposite thedifferent phases of the business cycle 58 to 68 on the game board 10, asshown.

Thus, for example, FIGS. 5 and 5A show the section 216 ofthe ticker tape38 at the ticker window 40. The uppermost group 224 appears in the planeof the phase 58 of highest prosperity, and quotes a value for WY stockof81; whereas, the lowermost group 234 appears in the plane of thedepression phase 68 and quotes a price of only 15 for the same stock.Similar high and relatively lower values appear for the remaining fourstocks in the groups 224 and 234.

The letters XD appearing in group 224 beside the quotation X-24, forexample, indicates the trader already holding that paticular stock isentitled to a dividend. lt will be understood that the letter XD show ona series of six successive sections of the ticker tape 38 each time thatthey appear. This insures that dividends will not be skipped with a spinof a high number by the ticker wheel arrow 154. However, if a traderbuys stock while it is XD, and it is still XD after the tape 38 has beenadvanced, he can collect a dividend in chips from the bank to add to hiscash net worth. A trader cannot collect or pay more than one dividend inany given series of six sections calling for dividends. If he sold thestock short, he must then pay the dividend to the bank by chips from hiscash net worth. The direction arrows and colored areas indicated in thevarious sections of the ticker tape 38, FIG. 9, require a certain moveor moves to be made by a trader who has mounted his symbol on the board10 to show he has acquired a particular stock, as will now be pointedout.

Referring to FIGS. 5A and 9, a horizontal arrow on the ticker tape 38,such as the arrow 254 opposite stock PX at the bottom of group 234 andpointing toward the right, indicates that, if the trader making the playis trading in this stock and has his traders symbol in the .solid blackarea 68C, he must move it toward the right such as the arrow 256opposite stock X of group 224, FIG. 5, pointing toward the left,indicates that, if the trader making the play is trading in this stockand has his trader's symbol in the red checkered area 58D, he must moveit to the solid red area 58C. In other words, horizontal arrows requirea trader's symbol to be moved from a solid to a checkered area, or viceversa, depending upon their direction.

If an arrow opposite a stock owned by a trader turns either up or down,it will point to a different color, solid or checkered, representing adifferent phase of the business cycle to which the trader must move hissymbol. Thus, in FIG. an arrow 258, opposite stock PX of the highprosperity group 224, points downwardly toward a checkered area 260colored blue (corresponding to the boom phase of a business cycle) andwould require the trader to move his symbol to a less desirable phaserepresented by the blue checkered area 62D. On the other hand, anupwardly directed arrow 262, FIG. 5, opposite stock J in the neardespair group 232, points toward a solid blue area 264 and would requirethe trader to move his symbol to a more desirable phase represented bythe solid blue boom area 62C of group 228. If another arrow were presenton the ticker tape 38 opposite the symbol J, the same trader would haveto make another move. In other words, trader symbol moves are requiredto be made until no further arrows appear on the ticker tape opposite atraders stock. If a trader has sold short, he is subject to the sameprocedures as described above with regard to change arrows. Conversely,though, it is desirable for his stock to move from brighter phases ofbusiness to duller phases, or from high to low, to allow him to cover orbuy in for a lesser price than he sold (theoretically) borrowed stock)for.

Also printed on the game board 10, or provided on one or more separatesheets, is a CHAIRMANS LIEN TABLE 236 showing liens to be levied as apenalty against one or more traders, under circumstances explainedlater. These tabulations enable the broker to quickly ascertain the lienor penalty to be paid, depending upon the particular stock and thenumber of shares that a lien-eligible trader owns at the time. TheCHAIRMANS LIEN TABLE 236 includes columns of colored areas 58G to 64G,and checkered areas 58H to 64H along the left margin thereof, whichcorrespond to the colored and checkered areas 58A 58B to 64A 64B, therebeing no colored or checkered areas corresponding to the brown areas 66A668 (near despair) and the black areas 68A 68B (deep depression) on thegame board 10.

The CHAIRMANS LIEN TABLE 236 has alternate horizontal rows labeled SH asan abbreviation for the number of shares, and intermediate rows labledwith a stock symbol. The stock symbols identify the same five stockstabulated on the game board and listed on the ticker tape 38. Morespecifically, the TABLE indicates the minimum number of shares that atrader must buy to walk THE CHAIRMAN, and the penalty he is entitled toreceive from another trader or traders as THE CHAIRMAN is walked. Forexample, if a trader is operating in the phase 58 of high prosperity andwishes to buy enough stock F to walk THE CHAIRMAN, this would bedetermined by reference to the corresponding phase 58G 58H of theCHAIRMANS LIEN TA- BLE, which indicates that he would have to buy aminimum of 300 shares, but could buy as many as 900 shares. The numeralbelow the FIGURE 300 is 2,000 and indicates that he would be entitled toa lien of 2,000 dollars if he owned 300 shares. The lien would be l5,000dollars if he owned 900 shares. Thus, it is to a traders advantage tobuy as many shares as possible when walking THE CHAIRMAN.

In comparison, if a trader is operating in the boom phase 62 and wantedto buy the same stock F for the same purpose, the corresponding phase62G 62H of the CHAIRMANS LIEN TABLE indicates that he would have to buya minimum of 400 shares, but would be entitled only to a lien of 2,000dollars. In other words, trading in the boom phase, instead of in thehigh prosperity phase would require the trader to buy I00 more shares ofthe stock F to get the same 2,000-dollar lien. If the trader isoperating in the still less desirable slow industrial activity phase 64,the section 640 64H of the TABLE 236 indicates that he would have to buya minimum of 500 shares of stock F to be entitled to the same 2,000dollar amount lien.

The game board 10, FIGS.'1 and 5A, also contains a group of holes 238associated with the legend PLUNGE HERE. It is in this area that thetraders mount their selected animal symbols at the start of the game byplacing the peg in one of the holes 238.

FIG. 12 shows a game board and ticker tape housing 12 similar to thatshown in FIG. 6, except that the game board 10 has a different windowdesign formed by a single opening 244 provided with a circumferentiallycontinuous ledge 246. A clear, transparent plastic window 248 is seatedon the ledge 246 and may be secured in place by an adhesive. The tickertape 38 is supported in close proximity to the window 248 by a strip 250that extends beneath the ticker tape 38 for the full length of theticker tape housing 12. It will be understood that the ends of the strip250 are secured to the end walls 34 and 36 of the housing 12 to retainthe same in place. The opposite longitudinal edges of the strip 250 arebeveled, as shown at 252, to facilitate movement of the ticker tape 38relative thereto in opposite directions.

In playing the present game, the game board 10 is placed in the centerof a table 240, FIG. 1, and each trader is furnished with a net worthchip rack 170, and a record of stock transactions sheet 174, along witha pencil 173. One trader is chosen to be broker and another to bebanker, or one trader can act as both broker and banker. The stock pricesheets 196 are placed in the holder 194, which may be put on a separatesmall stand 242 convenient to the broker, if the table 240 is not largeenough to receive the same. The bankerchip rack 172 may also be placedon the stand 242, or on any other support, if another trader is actingas the banker. The bankers chip rack 172, as the name implies, serves asa bank, and from this bank the banker gives each trader, includinghimself, an equal number of chips 158 to 168, corresponding in value toa preagreed initial amount of cash net worth. The chips are different incolor and in denomination, as has been previously mentioned, and eachtrader stores his allotment of chips in matching value slots in his network rack 170. Any starting amount of cash net worth may be agreed upon,but generally, a large amount will cause the game to end more quickly.

Each trader, including the broker, makes an entry of an equal amount ofa preagreed sum of dollars for operating capital under the headingBALANCE in the column 186 and opposite the letter B on his transactionrecord sheet 174, FIG. 11, for example $3,000.

Each trader selects a personalized symbol, such as THE BEAR 138, THEBULL 128, etc., as his identifying symbol for use in playing the game.As each traders symbol is selected, the trader positions it in the areaon the game board marked PLUNGE HERE, the peg 130 on the sumbol beingmounted in one of the holes 238 to hold it in an upright position untilthe trader takes his turn at play and moves his symbol to anotherposition on the game board.

The ticker tape 38 is turned back on the roll 30 or 32, if necessary, sothat one of the blank START sections 30A or 32A is at the ticker window40. The stock tabs 98 for stock J, etc., CHAIRMANS insignia 124, etc.,are placed in their appropriate compartments 104 to 122. The game board10 is now ready for use.

In order to determine which trader shall have the first play, eachtrader, in turn, spins the ticker wheel arrow 154. The trader with thehighest ticker wheel number is entitled to make the first play.

The first trader spins the ticker arrow 154 and the play that he canmake is determined by the position in which the ticker arrow 154 stops.The arrow 154, when it stops, will overlie a given segment of the tickerwheel 152, and will point generally toward a number 1, 2, 3, 4, 5, or 6at the margin of the ticker wheel, and will overlie either a solidportion 58AA to 68AA, or a checkered portion 58BB to 6888, of thesegment. The numeral indicates the number of sections that the tickertape 38 must be advanced by the trader, and the colored portion beneaththe ticker arrow 154 indicates the era or the phase of a business cyclein which the trader may operate. The ticker tape 38 is advanced, but ifthe trader is dissatisfied with the particular business phase in whichhe would be required to operate if he makes a play, or if he does notwish to trade any of the five stocks at the current price appearing onthe ticker tape 38 for that phase, he can pass and leave his traderssymbol in the space to where he had moved from PLUNGE HERE and await hisnext turn to play. A trader may pass on any turn but if he decides notto make a trade, then his symbol must remain in the colored space whereit was placed on the spin of the ticker arrow 154. When a trade iscompleted and a stock is liquidated, the traders symbol is returned toPLUNGE HERE where the cycle is started all over again on the tradersnext turn.

If the first trader makes a playing-spin of the arrow 154 and it stopsover the solid blue portion 62AA of the segment 3, as shown in FIG. 5,this means that the trader may operate in the boom phase, group 62, ofthe business cycle. The numeral 3 would require the trader to move theticker tape 38 three sections by turning the knob 42 counterclockwise,as viewed in FIG. 6, until the section 216 of the tape is in full viewat the ticker window 40, as shown in FIGS. 1 and 5 5A.

The trader now has five stocks from which to choose. The high and lowrange of each of these stocks is posted in the columns 54 and 56 on thegame board 10, corresponding to the business cycle phase 62 in which heis entitled to operate. A comparison of the current prices in group 228on the ticker tape 38 with these highs and lows will aid the trader indeciding whether or not to make a trade. If the price of a particularstock is acceptable, he will indicate that he has decided to trade.

The traders may agree beforehand that a trade shall not involve a sumexceeding a certain amount, for example, $l0,000.00; unless shares arebeing bought to walk THE CHAIRMAN. The traders must also conform to therule that a trader may trade in only one stock at a time. This meansthat on each play the trader must either trade his one stock foranother, or pass and not make any play. Since the arrow 154 stopped overthe solid blue portion 62AA of segment 3, and not over the checkeredportion 6288, the trader must remove his traders symbol from the PLUNGEHERE area and place its peg in a hole in the game board 10 in any of theholes in the solid blue area 62A. Thus positioned, he can decide whetheror not to trade. For example, if he chooses stock F out of the fivestocks listed, he would move his traders symbol across the window 40 tothe right and reposition it in the solid blue portion 62AA on the sameline as the stock F, as is shown in dot-and-dash lines in FIG. 5. Forpresent purposes, let it be assumed that he chose THE BEAR 138 as histrading'symbol.

As has been indicated above, the present game simulates stock markettrading, with risks and gains, creating excitement similar to thatexperienced by traders in buying and selling stock on the regular stockexchange. As in the regular stock exchange, shares of stock may bebought outright, or on margin, and may be sold short. In the early partof the game, margin buying and short selling are advantageous inbuilding up operating capital and net worth as quickly as possible. Theobject is for each trader, by shrewd buying and selling, to increase hisoperating capital to a point where he can walk THE CHAIRMAN 86 andassess liens against the cash net worth of other traders, and thusdeplete their cash and eliminate them from the game.

When a trader decides to trade, he chooses the stock he wishes to tradeand tells the broker the market price thereof appearing on the tickertape 38, and states whether the purchase is on margin or for cash (ashort sale is automatically margin), and informs the broker of theamount of operating capital that he wishes to invest. Of course, at thebeginning of the game, all traders have an equal amount of operatingcapital. If a limit has been preset on the amount of operating cash thatcan be expanded in one trade, the trader may go the limit, say,$10,000.00.

As introductory matter and for the purpose of illustrating some aspectsof the use of the record sheet 174, and indicating a possible way inwhich a trader can increase his initial capital of $4,000 to $10,000,let it be theoretically assumed that 1000 shares of ANY stock selling at$8 per share was bought long on 50 percent margin and that the traderhas received two dividends of $500 each and has made a net gain of$5,000. The required entries would be made in the first space 81 on thesheet 174 as indicated, i.e., the letters ANY would be entered in theSTOCK column 176; the numeral 8 would be entered in the PRICE column 178on a 50 percent margin basis; the numeral 1,000 would be entered in theNO. OF SHARES column 180', the letter L would be encircled in the LONGOR SHORT column 182; the letter M would be encircled in the MARGIN OROUTRIGHT column 184; 4,000 would be initially entered in the BALANCEcolumn; the two 500-dollar dividends and the 5,000 dollar gain would beentered in the CAPITAL PLUS column and their total of 6,000 dollarswould be entered in this column after +T; the

6,000 dollars would be entered after +T in the BAL- ANCE column; and thecolumn entries totaled and entered as 10,000 dollars after B in thesecond space S2 to show the traders new balance.

Let it be further assumed that the trader, who has started with $4,000and has increased this amount to $10,000 and in response to his nextplay has moved his symbol to one of the holes in the solid blue area62A, FIG. 5, as shown in dot-and-dash lines; and from this position hasselected stock F of group 228 (FIG. 5) on section 216 of the ticker tape38, which is quoted at an abnormally low price of l I, and has decidedto buy it on margin. He tells the broker the amount he has to spend. Thebroker then refers to his stock price sheet 196, FIG. 10, and informsthe trader that he can buy 1,800 shares. The required margin for thisquantity of stock is $9,900, and this is the closest-value to the amountthe trader has available to spend. Assuming further that the recordsheet 174, FIG. 11, is that of the trader in question, in space S2 hewould enter: the letter F in the STOCK column 176; the numeral 1 l inthe PRICE column 178; the numeral 1,800 in the NO. OF SHARES column 180;encircle the L in the LONG OR SHORT column 182; encircle the M in theMARGIN OR OUTRIGHT column 184. He would then mount a blue-ink-markedstock tab F with the letter L on his traders symbol 138 and move it tothe right, across the ticker window 40 to one of the holes in the area62C in line with the stock symbol F, as shown in dot-anddash lines inFIG. 5. This would complete the purchase transaction. If later hedecided to sell the stock at 22, for example, the profit on thetransaction would be 11 points (the difference between 11, the purchaseprice, and 22, the selling price). The total gain, assuming nodividends, would be ascertained by referring to the second horizontalgroup of figures 208 in FIG. under 1,800 shares, which is $19,800. Thisamount would be entered opposite +T under BALANCE on record sheet 174and added to the previous balance of $10,000. The new balance shownopposite B on the space S3 below is $29,800. Since the CAPITAL PLUS andCAPITAL MINUS columns are used only for multiple entries, a singlesntry, such as this, may be made directly opposite +T or T, as the casemay be, in the BALANCE column 186.

Conversely, and by way of a further example, if the trader had $1 1,000capital, with his symbol positioned in area 62A, and decided to sell Fshort at a price of 22 on the same section 216 of the ticker tape 38,the broker would refer to another stock price sheet (not shown) similarto FIG. 10, excepting that share amounts would be shown on the basis ofa price of 22 instead of 11. He would tell the trader that he could sell1,000 shares on which the required margin was 1 1,000 (using the same 50percent basis as is shown for required margin on price sheet 206, FIG.10). The trader would enter in space S4 on record sheet 174, FIG. 11,the letter F in the STOCK column 176; the numeral 22 in the PRICE column178; the numeral 1,000 in the NO. OF SHARES column 180; and encircle theS in the LONG OR SHORT column 182; and encircle M in the MARGIN OROUTRIGHT column 184. He would then mount a red-ink-marked stock tab withthe letter S on his traders symbol 138 and move it to the right, acrossthe ticker window 40 to one of the holes in the area 62C in line withthe stock symbol F, as

shown in dot-and-dash lines in FIG. 5. This would complete the shortsale, for $22,000.

Later, if he decided to cover the stock (buy in shares to replace theborrowed certificate) at a price of l l he would have made a profit of l1 points, which is the difference between his short sale at 22 and thebuying price of l 1. Horizontal group 208 of FIG. 10 shows the profitunder 1,000 shares to be $1 1,000. This amount, assuming no dividendshad been paid while he was short," would be entered opposite +T on hisrecord sheet 174 and added to the previous balance of $11,000. The newbalance entered opposite B in the trading space S5 below would be$22,000. If he had sustained a loss, the loss would be calculated in asimilar manner and entered opposite T instead, before arriving at a newbalance.

The space S6 on the record sheet 174, FIG. 11, illustrates a situationin which the trader, with a balance of 11,000 dollars, and involving thesame stock as recorded in space S4, had to pay out two 500 dollardividends recorded in the CAPITAL MINUS column, totaled opposite T as1,000. This figure would be recorded in space S6 opposite T in theBALANCE column, which would be totaled to show a net of 21,000.

As a still further illustration, if a trader whose capital is $21,000(see FIG. 11, space S7), and whose symbol is positioned in the solidblue area 62A, decided to walk THE CHAIRMAN 86 (and is the first to doso) instead of buying on margin or selling short, and chose F at aquoted price of 21 (instead of 11 as shown in group 228, FIG. 5, section216 of the ticker tape 38), the broker would refer to the secondhorizontal group of figures on another price sheet (not shown), similarto those in FIG. 10, excepting that the price basis would be 21 insteadof 11. He would tell the trader that he could buy 1,000 shares (1,000 X21 is $21,000 RE- QUIRED CASH), and establish a lien of $11,000,according to the CHAIRMANS LIEN TABLE 236, FIG. 5A, area 62H, line 2 forstock F. The trader then would be entitled to place three PAY LIENMARKERS 90 on any three of the LIEN MARKER spaces in column 88, oppositeWALL STREET; mount a chairmans insignia tab 124 on his trading symbol138; erect THE CHAIR- MAN IS WALKING sign 148 on the game board 10; andplace THE CHAIRMAN 86 in position at the slot end 82 in preparation forthe beginning of his walk, which he would start on his next turn.

He would also have entered the $1 1,000 figure on his record sheet 174in the CI-IAIRMANs LIEN COL- UMN 192 and entered the remaining data in asimilar manner described above, except that he would have encircled theO in the MARGIN OR OUTRIGHT column 184, instead of encircling the M.Such entries would also have to be verified by the broker. The lienamount entered will not change unless by a new purchase of stock.

There are, however, certain disadvantages to walking THE CHAIRMAN 88,because, under a rule of play, once a trader walks THE CHAIRMAN, he willno longer be permitted to buy on margin or to sell short, nor can he buystock on the despair and deep depression phases 66 and 68 of thebusiness cycle. Otherwise, he may continue to trade as usual, to makeprofits if possible, and build up increased lien amounts to be assessedagainst other traders.

Walking THE CHAIRMAN 86 is an offensive move designed to put othertraders out of the game, and the trader who does so must remember thatany PAY LIEN markers 90 which he puts down are for the use of all othertraders who have THE CHAIRMAN walking, and the fact can be detrimentalto him since the more PAY LIEN markers which are down increase thepossibility of his paying a lien to other traders. Liens are assessed byany trader who is currently walking THE CHAIRMAN against other traderswho are caught regardless of whether their symbol is on any colored areafrom 58A, 58B, 58C and 58D through 68A, 68B, 68C and 68D. Once a traderssymbol has been moved from PLUNGE HERE at the start, it will always reston one of the colored areas described above, regardless of whether ornot a trade is negotiated. Preferably, THE CHAIRMAN 86 is not walkeduntil a point is reached in playing the game where a trader has builthis operating capital to a sufficient level, and feels that he has nofurther advantage in trading on margin.

As has been indicated above, the first trader to walk THE CHAIRMAN 86can place three PAY LIEN markers 90, and it is his choice as to wherethey are placed along WALL STREET. Each succeeding trader who walks THECHAIRMAN 86 places a single PAY LIEN marker 90 in one of the remainingunoccupied spaces. This is done until no open spaces remain. If thereare not enough traders to fill the spaces in this manner, the lasttrader to walk THE CHAIRMAN 86 fills the remaining spaces. If anyremaining traders who have not walked THE CHAIRMAN 86 are forced fromthe game, leaving only traders who have THE CHAIR- MAN walking, all openspaces should be filled at this point. PAY LIEN markers 90 should be inevery space when all of the traders remaining in the game have THECHAIRMAN 86 walking. If the game is played with five traders and four ofthem have THE CHAIR- MAN 86 walking, the PAY LIEN markers 90 will all bein place and will remain there, even though some of the traders whowalked THE CHAIRMAN 86 have been forced from the game.

Since the placing of a PAY LIEN marker 90 benefits all traders who havewalked THE CHAIRMAN 86, it is not necessary to keep track of theparticular space in which a trader has placed a PAY LIEN marker 90.

Continuing with the description of playing the game, the remainingtraders take turns and the general procedure is the same. The traderacting as broker tells the other traders the number of shared that theymay trade, based on all or part of their operating capital balance(subject to any rule limiting the maximum amount of a transaction), andit is his duty to see to it that the traders symbols are placed inapplicable places on the game board with the correct stock abbreviationtab attached thereto whenever a stock trade has been made, and that alldata is correctly entered on a traders transaction record sheet.

Let it be assumed that one of the traders has qualified to walk THECHAIRMAN. THE CHAIRMAN 86 begins his walk from the enlarged opening 82of the slot 80 next to the legend PLUNGE HERE on the board 10. This isdone by inserting the base 868, on which THE CHAIRMAN stands, into theslot 80, which runs along WALL STREET. THE CHAIRMAN 86 walks in thedirection his cigar is pointed and moves the number of spaces shown bythe ticker wheel arrow 154. For this purpose, each of the portions 58E,etc. of the column 92 on the game board 10 is counted as one space. WhenTHE CHAIRMAN 86 reaches the end of WALL I must be counted when he makeshis turn. He walks for all traders who, duringtheir turn at play, have achairman03 s insignia tab 124 on their play symbol, and his Walk eachtime begins from the space where he last stopped.

If, when THE CHAIRMAN 86 walks for a trader and stops opposite to a PAYLIEN space, all other traders whose symbols are on any solid orcheckered space (regardless of color), which corresponds with theneutral solid or checkered space where THE CHAIRMAN stops, must pay theamount of the lien shown on the CHAIRMANS LIEN TABLE to the trader thenwalking THE CHAIRMAN, or pay it to the bank, or split it between thetwo, depending upon the rule adopted by the traders. Such payment ismade by chips in various denominations, taken from the traders cash networth rack 170. y

Operating capital is not affected by the lien payment, allowing eachtrader to stay in the game at full strength, in so far as buying orselling is concerned, until his net worth represented by his supply ofchips is completely depleted.

For example, ifa trader is walking THE CHAIRMAN 86 and his walk stopsopposite the solid space 62E, FIG. 5, or any other solid or checkeredspace, where there is a PAY LIEN marker 90, any trader, other than theone who is walking THE CHAIRMAN, whose symbol 138 is in the relatedsolid or checkered space would have to pay a line. If THE CHAIRMAN 86stops at the space 60F where there is no PAY LIEN marker, there is noliability of other traders for lien payment. If a traders symbol is in amatching solid or checkered space on the left of the ticker window 40awaiting his turn to trade and he is caught, he must still pay the lien.This rule would apply to any such trader, even though he had previouslywalked THE CHAIRMAN 86, since this is a continuing act for the benefitof all other traders who are walking THE CHAIRMAN 86. Lien payments donot have any connection with the. traders operating capital balance and,so long as he has any chips remaining in his cash net worth rack 170, hemay continue to trade. Thus, a trader, who may be low on cash net worth,but strong on operating capital, has an opportunity to strike back withgreat power, so long as he can remain in the game.

When the second and subsequent transaction of a trader is completed, thebroker, by reference to the applicable stock price sheet 196, tells thetrader the amount of gain or loss involved in the trade, and verifiesthe accuracy of additions or subtractions entered on the transactionrecord shet 174, including the current operating capital balance. Thebroker also pays out chips to the trader according to the amount of thegain, or receives chips from the trader in the amount of the loss andplaces them in the bank chip rack 172. When THE CHAIRMAN is walking, anda lien payment is due, the broker checks the correctness of the lienamount to be collected, sees to it that THE CHAIRMAN 86 is properlywalked and that lien payment is made from the traders cash net worthrack 170. When necessary, and wherever possible, the other traders helpthe broker in his duties, and aside from such duties, the brokersparticipation in the game is the same as that of the remaining traders.

If a trader, on his turn, has an opportunity to trade in a stock whichhe does not own and which he believes is selling too high, he maytheoretically borrow that stock from the broker and order it sold short(on margin). The trader does this with the hope that he may later buyshares of the same stock on the open market at a lower price to replacethe stock that he borrowed from the broker. If successful, he will havemade a profit. If on his next play he must pay a higher price to coverthe shares, then he has a loss. The trading procedure in selling shortis much the same as buying long. The trader, after stating that he willsell short, tells the broker the price per share, etc.

Alternatively, a trader can buy a stock on margin that he believes inselling too low with the hope that he will be able to sell it for ahigher price and make a profit.

Any trader who desires to sell stock, if long, or to cover if short,must do so before spinning the ticker wheel arrow 154. The profit orloss on any transaction is, of course, the difference between theselling price and buying price, multiplied by the number of shares. Thisis easily determined by the broker by simply turning to the price sheetnumber, which is the same as the per share profit or loss. The amount ofprofit or loss appears on the CASH line shown under the particularnumber of shares involved in the transaction, and would be entered onthe traders transaction record sheet 174 under the column CAPITAL PLUSor CAPI- TAL MINUS, whichever is appropriate. A suitable entry would bemade in the BALANCE column and the current operating capitalascertained, all subject to verification by the broker.

Payment of money for the purchase or sale of shares is purelytheoretical. No money actually changes hands; and when a trade is made,it is assumed that the required amount has been paid to the broker fromthe traders operating balance. Any excess operating capital remaining,which exceeds the required amount, is considered to be held in theaccount and temporarily dormant.

When stock is sold, the stock abbreviation tab is removed from thetraders symbol, but if the symbol carries a chairmans insignia 124, thelatter is not removed. Any new purchase is made in the usual way and adifferent stock tab is mounted upon the traders symbol.

Since the market phase on which the traders symbol rests is the basisfor all dealings during a given play, the ticker tape 38 must beexamined each time that it is stopped, to determine any change in arrowswhich require moving a traders symbol from one market phase to another.If any changes in phases are indicated, or if any dividends are payableto or by a trader, they are handled in the manner previously described.

In case of selling short, the stock should be sold as high as possibleon the highest possible phase of the business cycle. The reason for thisis that the traders symbols are subject to being required to bearbitrarily moved from one phase of the cycle to another. Any trader whosells short at a high price on a low phase of the cycle is taking thechance that his symbol will go into a higher phase era, with higherprices, which could result in a loss to him. On the other hand, hissymbol may go to a lower phase era, with lower prices, which couldresult in gain.

If a trader does not have enough cash net worth chips to pay a lien orany loss, but still owns stock, he must immediately liquidate, i.e.,sell the stock, if long, or cover, if short. When stock is liquidatedunder these circumstances, the trader must leave his symbol in place andremove the stock abbreviation tab. If he makes a profit from thetransaction, and the chips he receives are sufficient to bring up hiscash net worth so that he can pay the lien and leave at lease in his networth, he may continue to play; otherwise, he is considered bankrupt orwiped out and must leave the game. He does not move his trading symboluntil his next regular turn, if any, after which he follows the usualprocedure for trading by buying stock based on his then currentoperating capital. The trader who succeeds in wiping out all othertraders is the winner.

It will be understood that various changes may be made in the rules ofplay of the game, and in the configuration and size of the traderssymbols and playpieces, and that the various indicia and other elementsmay be rearranged on the game board, without departing from theprinciples of the invention or the scope of the annexed claims. It willalso be understood that the two-fold feature of using operating capital,which cannot be weakened by other traders, for offensive action, asopposed to a traders cash net worth, which determines his right to stayin the game, and which can be weakened by other traders, can be appliedin principle to other games.

I claim:

1. A stock market game having a game board provided with a playingsurface; a plurality of play-pieces, including tabs having thereonindicia representing different stocks that may constitute the subject ofa trade; a ticker tape viewable at the plane of said playing surfacebearing current prices of said stocks; a transaction record sheet foreach trader having columns thereon headed STOCK, PRICE and OPERATINGCAPITAL, respectively, with a column under the latter headed BALANCE andupon which record sheet a trader enters each of his transactions for thepurchase and sale of stock and calculates his current operating capital;and wherein stock represented by a given one of said tabs can be tradedonly based on the monetary value of such current operating capital, withsubsequent profits or losses being added or subtracted in said BALANCEcolumn, when liquidation is made, to determine the traders new balanceof operating capital available for the next trade.

2. A game as defined in claim 1, including a plurality of chips ofspecified monetary value for each trader representing the traders cashnet worth, and means providing a CI-IAIRMANS LIEN TABLE, and in whichunder certain conditions of play, a given trader is entitled to assess alien against one or more other traders according to a value prescribedin said LIEN TABLE, and wherein said transaction sheet also has a columnheaded CI-IAIRMANS LIENS in which the assessed lien is entered on saidgiven traders transaction record sheet, and must be paid to said giventrader by said one or more other traders using cash net worth chips, andwherein any trader whose cash net worth is depleted is forced out of thegame.

3. A stock market game having a game board with stock-related datathereon corresponding to a plurality of different phases of a businesscycle, said phases being represented by at least one column of differentareas on the board and having a number of different identified stockslisted along one edge of each phase area; means operated by a trader forindicating by chance a particular one of said plurality of phases inwhich said trader must operate; and means having hereon stock pricequotations of a value corresponding to each of the stocks in each ofsaid lists of stocks of said different phases.

4. A game as defined in claim 3, wherein the stock price quotation meansalso has means thereon for directing a trader owning stock in one phaseto trade in a different phase.

5. A game as defined in claim 3, in which the different phases of thebusiness cycle are distinguished by different colored areas correspondto eras of: high prosperity, cautious trading, boom, slow industrialactivity, near despair, and gloom and deep depression; and including atrading symbol which the trader places in a given area to indicate theera in which he is required to trade.

, 6. A stock market game as defined in claim 5, wherein the meansoperated by the trader for indicating a particular one of said phasescomprises a ticker wheel and a spinnable arrow, said ticker wheel havingcolored segments corresponding to the different colored areas on saidgame board representing the different phases of the business cycle, saidarrow being rotatable over said colored segments and; upon stopping,indicating the colored area of the phase in which the trader is requiredto operate.

7. A game as defined in claim 6, wherein the means having thereon thestock price quotations and the means for directing the trader to tradein a different phase, is one of a multiplicity of sections of a tickertape; and wherein numbers are arranged at the edge of the ticker wheelopposite each of its segments, and which numbers indicate the number ofsections that the ticker tape must be moved in advance of a play beingmade by the trader.

8. A game as defined in claim 7, wherein the game board has a walkwayalong which a play-piece is walked in accordance with the number atwhich the arrow of the ticker wheel stops; and wherein the game boardhas spaces along said walkway opposite to the areas which may beoccupied by traders symbols; and where, if the walk of the play-piece isstopped at a space opposite an area containing a traders symbol, a lienis assessed against such trader.

9. A game as defined in claim 8, wherein the walkway is a slot in thegame board; and wherein the play-piece that is walked is a symbolrepresenting THE CHAIR- MAN of the Board.

10. A game as defined in claim 9, including PAY LIEN markers and whereina trader who buys a predetermined minimum number of shares of stock forcash is entitled to place a PAY LIEN marker opposite one or more of saidspaces; and wherein, when THE CHAIRMAN stops walking opposite the PAYLIEN marker, any other trader whose symbol is then opposite THE CHAIRMANmust pay a prescribed lien to the trader then walking THE CHAIRMAN.

11. A stock market game, comprising: a game board; means providing awindow in the game board; a ticker tape having along the length thereofseparate transverse sections of stock-related data comprisingstockidentifying symbols and price quotations; means positioning saidticker tape relative to said window so that a section of said tickertape can be viewed at said window, said game board havingstock-identifying symbols thereon along one side of said window matchingthe stock symbols on said ticker tape; means connected with said tickertape for moving it lengthwise relative to said window to presentsuccessive sections thereof for viewing at said window; and meansoperated by a trader for indicating the number of sections of the tickertape that must be advanced before said trader makes a play.

12. A game as defined in claim 11, wherein the game board has, adjacentto the stock symbols thereon, additional data in the form of figuresindicating the high and low prices for each stock, and wherein theticker tape section includes the current price for each such stock.

13. A game as defined in claim 12, wherein the game board has, adjacentto the stock data thereon, and aligned parallel therewith, a column ofcheckered colored areas of different colors and next to said checkeredcolored areas, a column of solid colored areas of matching colors, andwherein said colored areas in said columns represent different phases ina business cycle.

14. A game as defined in claim 13, including playpieces, and wherein thecheckered and solid colored areas have holes for mounting a play-piecethereon.

15. A game as defined in claim 14, wherein each play-piece is a symbolidentifying an individual trader, and wherein the play-piece has a pegreceivable in-one of the holes, and wherein the peg is placed in thearea corresponding to the phase in a hole in which the trader isoperating.

16. A game as defined in claim 13, wherein the game board hasstock-identifying symbols arranged in a column along the other side ofthe window and also has columns of solid and checkered colored areasparallel thereto matching those of the checkered and solid colored areasassociated with said one side of the window.

17. A game as defined in claim 16, in which the game board has a columnof figures opposite the stock abbreviation symbols indicating the amountof annual dividend payable on each of the stocks.

18. A game as defined in claim 11, wherein the game board is providedwith a pair of parallel slots and the ticker tape is threaded throughsaid slots and overlies the portion of the game board that is disposedbetween said slots to provide the window.

19. A game as defined in claim 11, wherein the means for positioning theticker tape relative to the window comprises an open-top housingdepending the underside of the game board, and means mounting the tickertape in said housing.

20. A game as defined in claim 19, wherein the means mounting the tickertape in said housing comprises a pair of rolls rotatably mounted in thehousing and upon which the ticker tape is wound.

21. A game as defined in claim 20, wherein the rolls have a knob on atleast one end thereof for facilitating winding the ticker tape back andforth from one roll to the other.

22. A game as defined in claim 19, in which the rolls project fromopposite ends of the ticker tape housing to a point adjacent oppositeedges of the game board and wherein a knob for rotating the rolls towind rewind the ticker tape is mounted upon each end of the rolls.

23. A game as defined in claim 22, including a ticker wheel divided intoa plurality of segments, and wherein the segments have solid andcheckered colored por-

1. A stock market game having a game board provided with a playingsurface; a plurality of play-pieces, including tabs having thereonindicia representing different stocks that may constitute the subject ofa trade; a ticker tape viewable at the plane of said playing surfacebearing current prices of said stocks; a transaction record sheet foreach trader having columns thereon headed STOCK, PRICE and OPERATINGCAPITAL, respectively, with a column under the latter headed BALANCE andupon which record sheet a trader enters each of his transactions for thepurchase and sale of stock and calculates his current operating capital;and wherein stock represented by a given one of said tabs can be tradedonly based on the monetary value of such current operating capital, withsubsequent profits or losses being added or subtracted in said BALANCEcolumn, when liquidation is made, to determine the trader''s new balanceof operating capital available for the next trade.
 2. A game as definedin claim 1, including a plurality of chips of specified monetary valuefor each trader representing the trader''s cash net worth, and meansproviding a CHAIRMAN''S LIEN TABLE, and in which under certainconditions of play, a given trader is entitled to assess a lien againstone or more other traders according to a value prescribed in said LIENTABLE, and wherein said transaction sheet also has a column headedCHAIRMAN''S LIENS in which the assessed lien is entered on said giventrader''s transaction record sheet, and must be paid to said giventrader by said one or more other traders using cash net worth chips, andwherein any trader whose cash net worth is depleted is forced out of thegame.
 3. A stock market game having a game board with stock-related datathereon corresponding to a plurality of different phases of a businesscycle, said phases being represented by at least one column of differentareas on the board and having a number of different identified stockslisted along one edge of each phase area; means operated by a trader forindicating by chance a particular one of said plurality of phases inwhich said trader must operate; and means having hereon stock pricequotations of a value corresponding to each of the stocks in each ofsaid lists of stocks of said different phases.
 4. A game as defined inclaim 3, wherein the stock price quotation means also has means thereonfor directing a trader owning stock in one phase to trade in a differentphase.
 5. A game as defined in claim 3, in which the different phases ofthe business cycle are distinguished by different colored areascorrespond to eras of: high prosperity, cautious trading, boom, slowindustrial activity, near despair, and gloom and deep depression; anDincluding a trading symbol which the trader places in a given area toindicate the era in which he is required to trade.
 6. A stock marketgame as defined in claim 5, wherein the means operated by the trader forindicating a particular one of said phases comprises a ticker wheel anda spinnable arrow, said ticker wheel having colored segmentscorresponding to the different colored areas on said game boardrepresenting the different phases of the business cycle, said arrowbeing rotatable over said colored segments and, upon stopping,indicating the colored area of the phase in which the trader is requiredto operate.
 7. A game as defined in claim 6, wherein the means havingthereon the stock price quotations and the means for directing thetrader to trade in a different phase, is one of a multiplicity ofsections of a ticker tape; and wherein numbers are arranged at the edgeof the ticker wheel opposite each of its segments, and which numbersindicate the number of sections that the ticker tape must be moved inadvance of a play being made by the trader.
 8. A game as defined inclaim 7, wherein the game board has a walkway along which a play-pieceis walked in accordance with the number at which the arrow of the tickerwheel stops; and wherein the game board has spaces along said walkwayopposite to the areas which may be occupied by traders'' symbols; andwhere, if the walk of the play-piece is stopped at a space opposite anarea containing a trader''s symbol, a lien is assessed against suchtrader.
 9. A game as defined in claim 8, wherein the walkway is a slotin the game board; and wherein the play-piece that is walked is a symbolrepresenting THE CHAIRMAN of the Board.
 10. A game as defined in claim9, including PAY LIEN markers and wherein a trader who buys apredetermined minimum number of shares of stock for cash is entitled toplace a PAY LIEN marker opposite one or more of said spaces; andwherein, when THE CHAIRMAN stops walking opposite the PAY LIEN marker,any other trader whose symbol is then opposite THE CHAIRMAN must pay aprescribed lien to the trader then walking THE CHAIRMAN.
 11. A stockmarket game, comprising: a game board; means providing a window in thegame board; a ticker tape having along the length thereof separatetransverse sections of stock-related data comprising stock-identifyingsymbols and price quotations; means positioning said ticker taperelative to said window so that a section of said ticker tape can beviewed at said window, said game board having stock-identifying symbolsthereon along one side of said window matching the stock symbols on saidticker tape; means connected with said ticker tape for moving itlengthwise relative to said window to present successive sectionsthereof for viewing at said window; and means operated by a trader forindicating the number of sections of the ticker tape that must beadvanced before said trader makes a play.
 12. A game as defined in claim11, wherein the game board has, adjacent to the stock symbols thereon,additional data in the form of figures indicating the high and lowprices for each stock, and wherein the ticker tape section includes thecurrent price for each such stock.
 13. A game as defined in claim 12,wherein the game board has, adjacent to the stock data thereon, andaligned parallel therewith, a column of checkered colored areas ofdifferent colors and next to said checkered colored areas, a column ofsolid colored areas of matching colors, and wherein said colored areasin said columns represent different phases in a business cycle.
 14. Agame as defined in claim 13, including play-pieces, and wherein thecheckered and solid colored areas have holes for mounting a play-piecethereon.
 15. A game as defined in claim 14, wherein each play-piece is asymbol identifying an individual trader, and wherein the play-piece hasa peg receivable in one of the holes, and wherein the peg is placed inthe area corresponding to the pHase in a hole in which the trader isoperating.
 16. A game as defined in claim 13, wherein the game board hasstock-identifying symbols arranged in a column along the other side ofthe window and also has columns of solid and checkered colored areasparallel thereto matching those of the checkered and solid colored areasassociated with said one side of the window.
 17. A game as defined inclaim 16, in which the game board has a column of figures opposite thestock abbreviation symbols indicating the amount of annual dividendpayable on each of the stocks.
 18. A game as defined in claim 11,wherein the game board is provided with a pair of parallel slots and theticker tape is threaded through said slots and overlies the portion ofthe game board that is disposed between said slots to provide thewindow.
 19. A game as defined in claim 11, wherein the means forpositioning the ticker tape relative to the window comprises an open-tophousing depending the underside of the game board, and means mountingthe ticker tape in said housing.
 20. A game as defined in claim 19,wherein the means mounting the ticker tape in said housing comprises apair of rolls rotatably mounted in the housing and upon which the tickertape is wound.
 21. A game as defined in claim 20, wherein the rolls havea knob on at least one end thereof for facilitating winding the tickertape back and forth from one roll to the other.
 22. A game as defined inclaim 19, in which the rolls project from opposite ends of the tickertape housing to a point adjacent opposite edges of the game board andwherein a knob for rotating the rolls to wind rewind the ticker tape ismounted upon each end of the rolls.
 23. A game as defined in claim 22,including a ticker wheel divided into a plurality of segments, andwherein the segments have solid and checkered colored portions matchingthose on the game board, and a ticker arrow pivotally mounted at thecenter of the wheel.
 24. A game as defined in claim 23, wherein theticker wheel has a numeral associated with each segment.
 25. A game asdefined in claim 11, including a base, and means mounting said gameboard on said base for free rotation relative thereto.
 26. A game asdefined in claim 25, wherein the means for mounting the game board forrotation relative to the base comprises a pivot pin mounted on the base,a ticker tape housing mounted on the underside of the game board, saidhousing having a bottom wall, and said bottom wall having an opening toreceive said pivot pin.
 27. A game as defined in claim 11, in which thegame board has, on said one side of the window, columns respectivelyrepresenting the low stock price, the high stock price, the stockabbreviation symbol, and columns of solid and checkered colored areas,each solid colored area representing a different phase in a businesscycle; and wherein, on the opposite side of the window, the game boardhas successive columns consisting of stock abbreviation symbols, acolumn of solid colored areas matching the solid colored areas on saidone side of the window, a second column of stock abbreviation symbols,and adjacent thereto a column of figures indicating the annual amount ofdividend payable on each of the stocks, and a column of checkeredcolored areas corresponding to the checkered colored areas on said oneside of the window; and play-pieces constituting trader''s symbols to beplaced in the particular colored area of the phase in which the traderis operating.
 28. A game as defined in claim 27, including play-piecesrepresenting THE CHAIRMAN of the Board and PAY LIEN play-pieces; andwherein the game board has a slot in which the symbol of the CHAIRMANcan be slidably mounted and moved to walk in accordance with the numberof moves required to be made by a given trader; and wherein a columnextending parallel with the slot is divided into separate sections eachof which is marked LIEN MARKER to receive a PAY LIEN play-piece; andwheRein a column adjacent to the one marked LIEN MARKER is divided intoareas each consisting of two spaces, one of which is checkered and theother of which is solid, said spaces being positioned to the solid andcheckered sections on the game board, whereby when THE CHAIRMAN stopshis walk opposite one of said spaces, a trader having his trading symbolin a corresponding area is required to pay a given penalty to said giventrader.
 29. A game as defined in claim 28, including a trader''s recordtransaction sheet having columns printed thereon for recording the nameof the stock, the number of shares involved in each transaction, theprice per share, cash operating balance and indicia to indicate whetherthe transaction was long, short or outright.
 30. A game as defined inclaim 28, including a series of stock price sheets, each sheet having onat least one side thereof a figure representing the price per share ofstock, and a tabulation of the value of various numbers of shares ofsuch stock purchased on margin, or outright, or sold short,respectively.
 31. A game as defined in claim 28, including chips ofvarious denominations representing a trader''s cash net worth, and atrader''s chip rack for storing said chips.
 32. A game as defined inclaim 28, including additionally a chip-storing rack for use as a bank.33. A game as defined in claim 28, wherein the game board has aplurality of recesses formed therein for storing various play-pieces.34. A game as defined in claim 28, including stock tabs having stocksymbol abbreviations thereon.
 35. A game as defined in claim 28, inwhich the stock tabs, in addition to having a stock abbreviationthereon, have either the letter L or S thereon; and are provided with agroove in one edge thereof for mounting the same upon a trader''ssymbol.
 36. A game as defined in claim 28, wherein the play-piecerepresenting THE CHAIRMAN comprises an upright portion having the figureof a CHAIRMAN depicted thereon, and a base; and wherein a subfloor isdisposed below the slot in the game board to support the base forsliding movement of THE CHAIRMAN along the slot.
 37. A game as definedin claim 36, wherein the slot has enlarged portions at opposite endsthereof to permit insertion of the base of THE CHAIRMAN''S play-piecetherethrough to be supported by the subfloor.